Compliance with Anti-Money Laundering Requirements Clause Samples
The 'Compliance with Anti-Money Laundering Requirements' clause obligates parties to adhere to all applicable laws and regulations designed to prevent money laundering and related financial crimes. In practice, this means parties must implement procedures such as verifying customer identities, monitoring transactions for suspicious activity, and reporting any concerns to the relevant authorities. The core function of this clause is to ensure that all parties act in accordance with legal standards, thereby reducing the risk of illegal financial activity and protecting both parties from potential legal and reputational consequences.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement to the contrary, the General Partner or its designees (including administrator, transfer agent or counsel), in its own name and on behalf of the Partnership, shall be authorized without the consent of any Person, including any other Partner, to take such action (including requiring any Limited Partner to provide it with information) as it determines in its sole discretion to be necessary or advisable to comply with any anti-money laundering or anti-terrorism financing laws, rules, regulations, directives or special measures, including the actions contemplated by the Subscription Agreements.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement to the contrary, the Adviser, in its own name and on behalf of the Fund, shall be authorized without the consent of any Person, including any Member, to take such action (including requiring any Member to provide it with such information) as it determines in its sole discretion to be necessary or advisable to comply with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures, including the actions contemplated by the Subscription Agreements.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement to the contrary, the General Partner, in its own name and on behalf of the Partnership, shall be authorized without the consent of any Person, including any other Partner, to take such action as it determines in its sole discretion to be necessary or advisable to comply with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures, including the actions contemplated by the Subscription Agreements.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement, the General Partner shall be authorized without the consent of any Person, including any other Partner, to take such action as it determines in its sole discretion to be necessary or advisable to comply with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures. Each Partner agrees to provide the General Partner at any time with such information as the General Partner determines to be necessary or appropriate to comply with the anti-money laundering laws and regulations of any applicable jurisdiction, or to respond to requests for information concerning the identity of a Partner from any governmental authority, self-regulatory organization or financial institution in connection with its anti-money laundering compliance procedures, or to update such information.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement to the contrary, the Manager, in its own name and on behalf of the Company, shall be authorized without the consent of any Person, including any Member, to take such action as it determines in its discretion to be necessary or advisable to comply with any anti-money laundering or anti-terrorist laws, rules, regulations, directives, or special measures.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement to the contrary, the General Partner, in its own name and on behalf of the Partnership, shall be authorized without the consent of any Person, including any other Partner, to take such action as it determines in its sole discretion to be necessary or advisable to comply with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures, including the actions contemplated by the subscription agreement. Without prejudice to any more specific requirements set forth in this Agreement, each Limited Partner hereby agrees to provide any information and assistance reasonably requested by the General Partner, the AIFM or either of their respective agents or service providers in connection with such compliance with anti-money laundering rules and regulations.
Compliance with Anti-Money Laundering Requirements. The Managing Member shall be authorized, without the consent of any Person, including any other Member, to take such action as it determines to be necessary or advisable to comply, or to cause the Company to comply, with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement to the contrary, the Board of Managers, in its own name and on behalf of the Company, is authorized without the consent of any Person, including any Shareholder, to take such action as it determines in its sole discretion to be necessary or advisable to comply with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures.
Compliance with Anti-Money Laundering Requirements. Notwithstanding any provision of this Agreement to the contrary, the General Partner, on its own behalf or on behalf of the Fund, shall be authorized without the consent of any Person, including any other Partner, to take such action as it reasonably determines to be necessary or advisable to comply, or to cause the Fund to comply, with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures, including any actions contemplated by the Subscription Agreements. In particular, in accordance with the Luxembourg laws and regulations implementing
(a) Measures aimed towards the prevention of money laundering, as provided by (but not limited to) the 2004 Law, the Grand Ducal regulation dated 1 February 2010 providing details on certain provisions of the 2004 Law, the relevant circulars and regulations issued by the Commission de Surveillance du Secteur Financier (the “CSSF”), including (without being limited to) the CSSF Regulation 12/02 dated 14 December 2012 relating to the fight against money- laundering and the financing of terrorism and any Luxembourg laws implementing directive 2015/849 of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, may require a detailed verification of prospective investors’ identity, their beneficial owners, as applicable, as well as the identification of the origins of the funds subscribed.
(b) The implementation in Luxembourg law of the Fourth AML Directive resulted in particular to changes to the 2004 Law and to the adoption of additional legislation. The Grand Duchy of Luxembourg adopted the RBO Law which has been supplemented by the Grand- ducal Regulation of 15 February 2019 on the registration, payment of administrative fees and access to information recorded in the RBO. At the latest until 30 August 2019, the Luxembourg entities registered in the Luxembourg RCS will be required to (i) obtain and hold information on their UBOs, within the meaning of Article 1 (7) of the 2004 Law, and (ii) provide such information to the RBO. The RBO manager is the economic interest grouping “Luxembourg Business Registers”, which also maintains the RCS.
(c) The General Partner and the Manager also reserve the right to refuse to make any distribution to a Limited Partner if the Manager suspects or is advised that the payment of any distribution monies to such Investor might result in a breach or violation of any applicable ant...
Compliance with Anti-Money Laundering Requirements. Notwithstanding any other provision of this Agreement to the contrary, the General Partner in its own name and on behalf of the Partnership shall be authorized, without the consent of any Person, including any other Partner, to take such action as the General Partner determines in its sole discretion to be necessary or advisable to comply, or to cause the Partnership to comply, with any anti-money laundering or anti-terrorist laws, rules, regulations, directives or special measures of the United States or elsewhere, including the actions contemplated by the subscription documents. The General Partner may disclose any information concerning the Partnership or the Limited Partners necessary to comply with applicable laws and regulations, including any money laundering or anti-terrorist laws or regulations, and each Limited Partner shall provide the General Partner, promptly upon request, all information that the General Partner determines in its reasonable discretion to be necessary to comply with such laws and regulations.